Sales Intelligence can be best defined as an innovative set of analytic applications that help sales managers, analysts and executives in various sales enterprises to optimize and evaluate key sales processes. It further assists in providing perceptive and meaningful insights and information for business improvement, uncovering and fixing alignment gaps and many others. In today’s dynamic world, the process enables a company to manage sales leads better, resulting in consistent sales cycles.
Sales intelligence leads to sales effectiveness by simplifying information barriers across various sales channels to attain significant insights in a timely manner. By using lagging pointers of sales presentations traditionally from sales commission systems to analyze scopes in the sales pipeline, hiring plans and territories assignments, Sales Intelligence tools assist enterprises in maximizing revenue and enhancing profitability. The tools generally include the following features:
- Plan Effectiveness – To influence the company’s plans on strategic goals.
- Product Analytics – To evaluate channel/product mix .
- Pipeline Analytics – To govern pipeline health.
In recent times, we have seen the emergence of numerous service providers of Sales Intelligence offering new age solutions. They allow you to analyze professional and personal networks and highlight all your contacts. At the same time, you can find your potential contact points, which could be individuals as well companies. Sales tools help you discover contacts with whom networking can prove beneficial and can help you to generate and close business faster. Other beneficial features include the following:
- Cordial introductions simplify the prospecting method and enable you to close sales deals quicker.
- Maximize pipeline velocity by recognizing and connecting to significant decision makers and prospects.
- Access complete profiles of both company and individual prospects.
- Develop your networking by discovering people with whom it is worthwhile to network.
- Manage your overall network by assimilating all the contact sources in a single application.
Sales Intelligence applications are mainly created for organizations in wholesale, distribution and manufacturing segments. In a highly competitive market scenario with high volumes these tools and applications offer unique insight for customer buying trends. By automatically evaluating these trends, SI pro-actively recognizes and provides cross-sell, switch-sell and up-sell opportunities.